Burberry sales slide as revenues disappoint

Burberry reported a slowdown in its sales growth during the fourth quarter of its financial year in a setback that sent its shares more than 5 per cent lower.

The luxury retailer said today that despite “exceptional” performance in the UK and a recovery in mainland China its wider restructuring efforts meant that its total revenues over the past six months had also slipped.

As it updated shareholders on trading in the second half today, Burberry said that retail sales had grown by 2 per cent in the fourth quarter, but this represented a slowdown on the 3 per cent growth of the previous three months.

Falling revenue in Burberry’s wholesale and licensing divisions as well as weaker performances in Hong Kong and the Americas…

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